Thursday's News Links

[Yahoo/Bloomberg] Stocks Gain as Rates Relief Sets In: Markets Wrap

[Reuters] Yen weakens, paring sharp rise after suspected intervention

[Yahoo/Bloomberg] Yen Bears Push Back on Japan’s Suspected Intervention Again

[Yahoo/Bloomberg] Oil Rises After Dropping to Seven-Week Low on US Inventory Gain

[Reuters] US weekly jobless claims unchanged; layoffs decline in April

[Dow Jones] U.S. trade deficit clings to the highest level in almost a year

[Yahoo/Bloomberg] Blackstone Taps Vast Source of Cash in $1 Trillion Credit Push

[Yahoo/Bloomberg] Japan Tries to Maintain Mystery on Whether it Intervened on Yen

[Reuters] Japan's May 1 intervention may have cost $23.6 bln, BOJ data shows

[Yahoo/Bloomberg] Yen’s Sustained Weakness Frustrates Even Japanese Exporters

[CNBC] World’s largest olive oil producer says the industry faces one of its toughest moments ever

[Bloomberg] US Labor Costs Rise by Most in a Year as Productivity Cools

[NYT] What Will It Take for the Fed to Lower Rates?

[WSJ] Fed Chair Jerome Powell Projects Optimism, But Inflation Data Are in the Driver’s Seat

[WSJ] The Treasurys Market Is Getting Squeezed From All Sides

[WSJ] The Exodus of China’s Wealthy to Japan

[FT] Jay Powell’s dilemma: the US economy is too strong to cut rates

[FT] Bond market liquidity squeeze keeps regulators alert to risks

[FT] Japan is haunted by a return to emerging-economy status

Wednesday Evening Links

[CNBC] Stock futures rise after Fed decides to hold rates steady: Live updates

[Reuters] S&P 500, Nasdaq end lower after Fed rate decision, Powell press conference

[Yahoo/Bloomberg] Yen’s Surge Stirs Talk That Japan Is in the FX Market Once Again

[Yahoo/Bloomberg] Gold Gains as Fed’s Rate Comments Are Less Hawkish Than Feared

[Yahoo/Bloomberg] Fed Flags Lack of Inflation Progress But Signals Hikes Unlikely

[Bloomberg] Japan’s Kanda: Nothing to Say on Whether We Intervened on Yen

[NYT] Fed Holds Rates Steady, Noting Lack of Progress on Inflation

[WSJ] Fed Says Inflation Progress Has Stalled and Extends Wait-and-See Rate Stance

[FT] Federal Reserve chair Jay Powell signals interest rates will remain higher for longer

Wednesday Afternoon Links

[Reuters] Nasdaq, S&P 500 fall as investors take cover before Fed decision 

[Yahoo/Bloomberg] Gold Advances as Traders Assess US Data Ahead of Fed Decision

[Yahoo/Bloomberg] Oil Extends Slump Below $80 a Barrel After US Stockpiles Swell

[Yahoo/Bloomberg] Bitcoin ETFs Flash Signs of Stress as Discounts Reach Records

[Yahoo/Bloomberg] AMD Slides After AI Chip Forecast Misses Lofty Estimates

[CNBC] Fed holds rate steady and moves to ease the pace of balance sheet reduction

[CNBC] Here’s what changed in the new Fed statement

[Yahoo/Bloomberg] US Factory Activity Shrinks With Price Gauge Highest Since 2022

[Reuters] US manufacturing sector regresses in April; prices paid near two-year high

[Reuters] US construction spending falls in March

[Yahoo/Bloomberg] US Holds Quarterly Debt Sale Steady, Details Buybacks Start

[Yahoo/Bloomberg] Bond Mutual Funds Rake in $108 Billion to Break Two-Year Exodus

[Reuters] US bird flu outbreak spreads to chickens, cattle, raises concerns over human infections

[Bloomberg] More Americans Consider China an Enemy, Pew Research Says